The scheme was devised by the Department for Business, but is delivered by a consortium of private businesses.
Between 2012 and 2014 the businesses it has worked with have delivered £1.5bn worth of growth and created 36,572 jobs.
Over the past financial year, SMEs produced a 7 per cent increase in growth a a 5 per cent increase in jobs, whilst GrowthAccelerator backed businesses generated a 32 per cent increase in growth an a 36 per cent increase in jobs.
Obviously it’s important to bear in mind that correlation doesn’t always equal causation – those businesses going for growth are more likely to be those going to GrowthAccelerator looking for help. Nonetheless the figures are impressive and show great success for the UK’s growing businesses.
Matthew Hancock, the enterprise minister, said: “It is part of our long term economic plan to ensure Britain is the best place for small businesses to start up and scale up. Government backed services like GrowthAccelerator help to create the right environment for enterprise.”
Karl Eddy, a partner at Grant Thornton UK LLP, which leads the scheme, said: “This phenomenal success tells is testament to the ambition an entrepreneurial spirit of our clients and to the quality of expert coaching they’ve received along the way.
“We’re excited to be part of these extraordinary growth stories and will continue to work hard to deliver an excellent quality service going forwards.”
Related: Seven characteristics of fast-growth businesses
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